My personal preference has always been smooth. For many years, I shaved. About 5 years ago, I found a fellow nudist lady who did waxing for males. Since that time, I have a total wax front to back. I love the look and feel. I go about every 6 weeks since I am of fair or light hair. I have very little body hair anyway. I prefer my sex partner to be smooth or well trimmed as I love oral sex.
I suppose I prefer both. I shave my balls and most of my pubes every other day. I do leave a triangle shape area of hair just above my penis . . . symbolic for a vagina . . . which being split from my wife of 37 years for 2 years now, is about as close as I figure I'll get near a vagina ever again ;-) jy